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Speaker 1: This is Bloomberg Business of Sports. The cold hearts truth

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Speaker 1: about the Olympic journey is not really been financially incentivized

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Speaker 1: in the same way that many of the professional sports are.

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Speaker 1: This is a basketball and involved dB A glubals are

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Speaker 1: licensing arm sink for fifty All of those things will

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Speaker 1: make up what that looks like money in sports. It's

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Speaker 1: one of the reasons why I enjoyed being on Money

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Speaker 1: Night Countdowns talk about some of the more interesting aspects

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Speaker 1: of business of sports. When you're talking sports, discipline is

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Speaker 1: the bridge from being good to openly being great at

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Speaker 1: whatever it is that you're trying to be your accomplished

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Speaker 1: at your profession. Bloomberg Business of Sports from Bloomberg Radio.

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Speaker 1: This is the Bloomberg Business of Sports show, where we

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Speaker 1: explore the big money issues in the world of sports.

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Speaker 1: I'm Michael Barnes, I'm Scarlett Phil and I'm michaeln Coming

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Speaker 1: up today. Somebody's got that green jacket a brand new one.

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Speaker 1: Congratulations Scottie Scheffler, who beat runner up Rory McElroy by

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Speaker 1: a three strow. Let's put it this way, Scheffler didn't

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Speaker 1: lose it. Rory McElroy. He tied a record round scar

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Speaker 1: uh and he was on the pace too. If anything

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Speaker 1: happened to Scheffler, Rory could have won it. Yeah, he

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Speaker 1: had an incredibly strong finished. I normally don't follow golf

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Speaker 1: at all, but of course Tiger Woods returned to the

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Speaker 1: Masters was all anyone was talking about, at least initially, right.

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Speaker 1: I mean on Thursday, he had an incredible round, finished

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Speaker 1: one under par and people were all excited. I read

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Speaker 1: that the ratings on ESPN the Thursday coverage was at

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Speaker 1: one percent from last year at this time on Thursday.

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Speaker 1: On Friday, that's most the most watched golf event ever

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Speaker 1: in the history of ESPN. I was riveted to it.

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Speaker 1: He was on the practice screen and he was putting,

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Speaker 1: and then when he got a standing ovation from a

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Speaker 1: crowd which was twelve deep, as he walked to the

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Speaker 1: first tea and every move he made was chronicled. I mean,

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Speaker 1: this was this was turning back the clock to like

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Speaker 1: when Babe Ruth came to town. When Muhammad Ali visited

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Speaker 1: countries around the world, you could see adults standing on

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Speaker 1: their tiptoes, children on their shoulders, next training everywhere. It

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Speaker 1: was almost like when when when Man landed on on

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Speaker 1: on the Moon in nineteen nine. Everyone was standing on

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Speaker 1: sidewalks looking in department stores, televisions in the windows, just

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Speaker 1: trying to get a glimpse of Tiger Woods. It really

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Speaker 1: was something fascinating. This is why people talk about Tiger Woods.

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Speaker 1: This is why the media talks about Tiger Woods. Because

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Speaker 1: the ratings of Sky Eyes Girl. Yeah, I mean it

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Speaker 1: brings in the uninterested viewer, the peripheral viewer like me,

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Speaker 1: I don't care about golf unless Tiger Woods is in it.

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Speaker 1: At first, it was because he was this child prodigy.

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Speaker 1: Then it was because he was like a superhero that

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Speaker 1: couldn't do anything wrong. Then it was because he was

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Speaker 1: a train wreck. And now I'm fully invested in his

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Speaker 1: redemption story. So you know, when he's back on the

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Speaker 1: golf course, I pay attention. I'm curious about what's going

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Speaker 1: to happen. And after a while, when he didn't do that,

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Speaker 1: while he finished not the way he started, it becomes

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Speaker 1: a little less interesting, and I'm sorry for that. But

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Speaker 1: he makes the game interesting. He does, and he was ailing.

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Speaker 1: He was acknowledging the crowd when he's in, when he's

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Speaker 1: in contention, I mean, he's in the zone. I mean,

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Speaker 1: and that's you know, if you're playing in a public

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Speaker 1: golf course or in the Masters, when you're in the zone,

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Speaker 1: you don't talk and look at anybody else. But he

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Speaker 1: tipped his cap when he walked up to the sixteenth

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Speaker 1: green and then walk up eight team, which is usually

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Speaker 1: reserved for the champion. Coming up to the eighteenth green,

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Speaker 1: the thunderous standing ovation and Tiger took his cap off,

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Speaker 1: He smiled, he waved, he acknowledged everybody. I think he

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Speaker 1: enjoyed it. And this was one of those moments where

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Speaker 1: you don't necessarily have to finish first to be a winner. Yeah,

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Speaker 1: he was just saying being there was a victory for

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Speaker 1: him and didn't Scotty Schuler where Tiger Woods a snakers

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Speaker 1: and his clubs is that right? Clubs his sneakers. Yeah,

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Speaker 1: Tiger Woods made some comments after his final and the Masters.

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Speaker 1: Let's take a listen. We're excited about the prospects of

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Speaker 1: the future, about training, um, about getting into that gym

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Speaker 1: and doing some other stuff too to get my legs stronger,

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Speaker 1: which we have mailed to do because it's needed more

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Speaker 1: time to heal. But you know, I think it needs

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Speaker 1: a couple more days to heal after this. But well

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Speaker 1: we'll get back after it and we'll get into it.

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Speaker 1: Tiger Woods will always be tiger Woods. He will always

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Speaker 1: have that following. Now he says he might do the Open.

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Speaker 1: Now the US Open is up in the air, and

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Speaker 1: some other tournaments also, but just for him to get

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Speaker 1: out on the course what he did fourteen months ago,

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Speaker 1: he didn't even know he was going to have a legged.

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Speaker 1: Now he was out there being competitive. In fact, if

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Speaker 1: he didn't he had a bad third round. Obviously, if

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Speaker 1: he didn't have that bad third round, he could have

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Speaker 1: been competitive out there. Because the weekend went on, his

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Speaker 1: limp became more and more obvious. And it's a very

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Speaker 1: hilly course down at Augusta. It's very deceptive on television,

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Speaker 1: and anybody who's ever had any type of knee injury

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Speaker 1: or hip injury knows that when you walk downhill it

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Speaker 1: actually hurts more than you're going up and putting about

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Speaker 1: five times as much pressure on your joints. And it

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Speaker 1: really showed. I mean when he finished him, he was

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Speaker 1: like he was limping. Really noticed going into the clubhouse.

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Speaker 1: It was a return when he won. Jim Nance coined

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Speaker 1: the phrase one for the Ages when he won the

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Speaker 1: first of his five this was a return for the Ages.

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Speaker 1: Does he have to walk the course for the US Open?

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Speaker 1: For the other tournament? Everyone, there are no exceptions at all.

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Speaker 1: You have to walk the course. So the next major

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Speaker 1: is in May at Southern Hills, that's the PGA Championship.

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Speaker 1: The US Open is here at Brookline in Boston Father's

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Speaker 1: Day weekend, and the Open at St. Andrews is in July.

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Speaker 1: He has committed to that verbally. He's not sure about

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Speaker 1: the other two. But he will only play in majors

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Speaker 1: between now and July. So this is just tradition that

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Speaker 1: everyone has to walk the course. It's a rule. It's

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Speaker 1: a rule. But why it's a test of endurance. It's always. Yeah,

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Speaker 1: you have to wear long pants, you can't wear shorts,

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Speaker 1: and you have to walk the course because it's in

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Speaker 1: addition to your skill striking the golf ball, you have

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Speaker 1: to be able to endure four days, seventy two holes

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Speaker 1: of walking up the hills, walking into woods, walking across bridges.

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Speaker 1: It's it's a level playing field. They can't have half

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Speaker 1: the people driving a car and half the people talking.

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Speaker 1: Let's talk about the Buffalo Bills, New York governor, Buffalo native.

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Speaker 1: I'm glad you mentioned that. Oh yeah, and you know,

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Speaker 1: for people who don't know, they got eight hundred fifty

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Speaker 1: million dollars in public subsidies for the new Buffalo Bill stadium.

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Speaker 1: And it's something that the governor has pushed for. And

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Speaker 1: this isn't a Kumbaya moment because some people are not

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Speaker 1: happy calling it a giveaway of taxpayer dollars. Million is

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Speaker 1: the most in US history for a single stadium. And

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Speaker 1: as usual, the billionaire owners of the Bills had threatened

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Speaker 1: to move the team unless they got enough public funding

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Speaker 1: for this new arena, Hocal. As you mentioned, Mike is

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Speaker 1: from the Buffalo region. And interestingly, and of course you know,

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Speaker 1: I saw this in the tabloids. Her husband is senior

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Speaker 1: vice president and senior counsel for the company that provides

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Speaker 1: concessions and dining and retail at the Bills current stadium.

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Speaker 1: Her take on this is that obviously the company that

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Speaker 1: does this has no say whatsoever. The Bills make all

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Speaker 1: the decisions are but it's not a good look. The

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Speaker 1: optics are not great. Well. The Bills in the National

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Speaker 1: Football League gonna chip in an additional five fifty million dollars.

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Speaker 1: So this is a project that swell over the minority

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Speaker 1: amount of the money, Yes, but it's it's over a

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Speaker 1: billion dollars. And you know, ironically, there are three National

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Speaker 1: Football League teams out of the state of New York,

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Speaker 1: but only one of them actually plays in the state

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Speaker 1: of New York. And that's the Buffalo Bills. The Jets

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Speaker 1: and the Giants play in New Jersey. My father in

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Speaker 1: law drives that point home often. He's a native New Yorker,

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Speaker 1: came out of Brooklyn, uh in the Queens area also,

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Speaker 1: and he said, look, only one team plays it's the

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Speaker 1: Bills in New York. That's why he loves the Buffalo Bills.

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Speaker 1: And and he drives at home all the time. And

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Speaker 1: you know, kudos to him because and kudos to the Bills.

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Speaker 1: But I'm telling you there's a lot of flak that's

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Speaker 1: going down, a lot of angry people, a lot of Democrats,

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Speaker 1: a lot of Republicans who are not happy. Um. And

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Speaker 1: for the record, the Bills have never won the Super Bowl, right,

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Speaker 1: I mean, they were dominant in the early nineties. They

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Speaker 1: did go to the Super Bowl what four straight times?

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Speaker 1: Four straight years? Yeah, they have not come away with

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Speaker 1: a victory. Wid Yeah, they were there man, you know,

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Speaker 1: speaking of the New Jersey area where the Giants and

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Speaker 1: Jets played. Scotty Scheffler, who now lives in Texas, who

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Speaker 1: one of the matters, grew up in New Jersey and

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Speaker 1: used to sneak on golf courses over by Ridgewood, New Jersey.

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Speaker 1: He grew up in His dad grew up in Englewood,

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Speaker 1: and he'd sneak on golf courses and then his that

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Speaker 1: the family moved to Texas where he went to high school.

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Speaker 1: But his roots are in New Jersey, just just in

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Speaker 1: the shadow of of MetLife Stadium. You know, we're New

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Speaker 1: York centric here. Me and Michael Barr so home town boy.

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Speaker 1: And by the way, Scotty Scheffler picked up two point

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Speaker 1: seven million dollars yesterday winning the Masters and a lot

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Speaker 1: of people. But however, since he played in the State

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Speaker 1: of Georgia, the Georgia I r S grabs nine hundred

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Speaker 1: nine nine thousand dollars of that, and the State of

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Speaker 1: Georgia grabs another five and three quarter percent a hundred

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Speaker 1: and fifty five thousand, so his take home is about

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Speaker 1: a hundred is one point five million. Uh, he loses

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Speaker 1: about one point two million dollars to taxes to the

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Speaker 1: state of Georgia and the I R S. I don't know, Scar.

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Speaker 1: That still sounds like Lynch money to me. Plus you

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Speaker 1: know there's going to be endorsements and everything else that

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Speaker 1: comes along. Right, Well, you get a lifetime and you

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Speaker 1: can playin the Masters the rest of your life. You

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Speaker 1: get a five year if you can play every golf

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Speaker 1: tournament there is. You get to wear a green jacket

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Speaker 1: outside of the grounds for one year, but then after

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Speaker 1: one year you can only wear it while you're on

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Speaker 1: the grounds of August and it must remain in possession

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Speaker 1: of the clubs. But you don't even get to keep it.

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Speaker 1: You gotta give it back to him. They put it

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Speaker 1: on a hangar and next time you're in town, stop

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Speaker 1: on by, you can wear it. Is that your jacket

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Speaker 1: or is it someone else's jacket? No, it's his jacket.

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Speaker 1: It will be on a hangar with his name on it,

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Speaker 1: with all the other champions in there. And for one

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Speaker 1: year he can walk around. You don't get down to

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Speaker 1: the malt shop and sit there and put his quarters

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Speaker 1: in the jukebox and hang out in his green jacket. Yeah, yeah,

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Speaker 1: well happens it was somebody like me, Because I know me,

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Speaker 1: I'll gain weight and then I can't fit in the

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Speaker 1: jacket and then there's mustard stains all on the jacket

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Speaker 1: and I can't. You know, I'm pretty sure they'll clean

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Speaker 1: it for you when it's hanging in us. And one

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Speaker 1: of the traditions you get next, they have a champions dinner.

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Speaker 1: All the former champions that want to and that are

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Speaker 1: still live obviously come to a Tuesday night for dinner

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Speaker 1: and you get to pick the menu. So, Michael Barr,

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Speaker 1: you just won the Masters next year and you're in

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Speaker 1: charge of picking the menu next year? What are we

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Speaker 1: having on Tuesday night before the Masters. See, y'all won't

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Speaker 1: like me because I'm a vegetarian. So I was gonna

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Speaker 1: say something more like, we're gonna have some tofu and

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Speaker 1: so and some fried rice. Yummy, yummy um. Next thing

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Speaker 1: you know, Jack Nicholas is throwing food at me. By

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Speaker 1: the way, before we move into the next time, I

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Speaker 1: don't want to say something about the bills. This agreement

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Speaker 1: that they had for the stadium, it means the team

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Speaker 1: now has agreed to stay in Buffalo for the next

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Speaker 1: thirty years. So there is a plus to that, right,

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Speaker 1: and then we'll have another fight about it again. But

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Speaker 1: you know, the stadiums are gonna last thirty years. It's

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Speaker 1: gonna be how long do teams stay in a new

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Speaker 1: stadium for before they start, you know, hankering for new

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Speaker 1: ones Atlanta, it's like every other week. Uh see Giants

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Speaker 1: Stadium open in seventy six. And when did MetLife open?

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Speaker 1: Maybe ten years ago? Yeah, it was a ten yeah

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Speaker 1: around the time years ago. They're not bolting for a

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Speaker 1: place like Las Vegas. They're gonna stay in Buffalo. The

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Speaker 1: Packers are staying in Green Bay too. Small market towns,

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Speaker 1: but where football means an awful lot of the economy

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Speaker 1: until they just you know, just the overall mood and spirit.

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Speaker 1: It sort of galvanizes a lot of communities in cities.

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Speaker 1: Speaking of a community where an NFL team had a

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Speaker 1: good marriage, the Denver Broncos. They're up for sale. And

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Speaker 1: now there's a guy who you know, the name walmart Air.

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Speaker 1: Rob Walton is considered the favorite to become the next

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Speaker 1: owner of the Enco's. That's according to several media sources.

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Speaker 1: Cars Yeah, he is said to be the front runner

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Speaker 1: the favorite to become the next owner. He has a

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Speaker 1: net worth of seventy and a half billion dollars, so

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Speaker 1: he could easily outbid any of the other known candidates

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Speaker 1: who are interested in buying the team. There's also kind

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Speaker 1: of an interesting family history here because l A. Ram's

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Speaker 1: owner stand Conki is married to Walton's cousin Rob, Walton's

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Speaker 1: cousin Ann. It's all in the family. Feels like, yeah,

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Speaker 1: clean up on the thirty yard line and are they

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Speaker 1: going to get this done before the start of the season.

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Speaker 1: They're trying to. They they want to get the team

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Speaker 1: sold before the season begins, hopefully, so we'll we'll see

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Speaker 1: for the Walton family anyway. By the way, before he's

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Speaker 1: talking about four billion dollars at least four yes, at

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Speaker 1: least four billion. Before that Carolina Panthers they sold for

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Speaker 1: two point two billion and eighteen boy for to double that.

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Speaker 1: That's a lot of money, folks, And he'll have no

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Speaker 1: problem getting it through. You need three quarters, you need

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Speaker 1: twenty four other owners to approve it. And all it

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Speaker 1: does is it increases the value of every other franchise. Wheah.

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Speaker 1: They're happy to say yes, So it might be a

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Speaker 1: slam Duncan might be thirty one to uh to nothing. Well,

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Speaker 1: the NFL does. I mean one of the other bidders

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Speaker 1: is Robert Smith. And of course the NFL is eager

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Speaker 1: for Robert Smith to buy the Broncos because he's African American.

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Speaker 1: He would become the league's first black team owner as well.

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Speaker 1: So that's another possibility as someone who could emerge as

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Speaker 1: stiff competition for Mr Walton. Let me answer question as

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Speaker 1: we talk about the valuation of the teams. If this

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Speaker 1: team is sold for four billion dollars and the other teams,

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Speaker 1: the other thirty one teams, the valuation goes up. The

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Speaker 1: Green Bay Packers are unique because the public has stock

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Speaker 1: in the Green Bay Packers. So I'm wondering if the

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Speaker 1: if you have stock in the Packers, do you want

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Speaker 1: this sale to go through. Well, the stock is actually

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Speaker 1: worthless to the to the it's just more of it's

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Speaker 1: ceremonial more than anything else. However, they can block that

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Speaker 1: the move of the of the package to another city,

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Speaker 1: But in terms of financial gain and return at the

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Speaker 1: net is zero for the people that are shareholders. I always,

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Speaker 1: I always wonder that though it's got to be ceremonial

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Speaker 1: because all of a sudden, here comes Joe Blow and

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Speaker 1: he's got a six pack coming into the stockholders meeting.

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Speaker 1: It's like, you know, yeah, and get rid of Aaron Rodgers.

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Speaker 1: You know, I can see this. I can't get the

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Speaker 1: image of Michael Bar with a green jacket on reading

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Speaker 1: tofu next with mustard on it. Come on, Scarlett Man.

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Speaker 1: I I had that a couple of nights ago. I

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Speaker 1: had the tofu, and I had the broccoli, and I

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Speaker 1: had the duck sauce, and I had the rice and

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Speaker 1: I put it all together and I tore it up.

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Speaker 1: And then my wife was mad at me because I

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Speaker 1: didn't leave her some of the stuff. And anyway, come on,

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Speaker 1: by folks. This is the Bloomberg Business of Sports podcast.

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Speaker 1: I'm Michael Bar along with Scarlet Food and Mike Lynch.

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Speaker 1: Catch us here each and every Monday, Wednesday and Thursday

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Speaker 1: exploring the world money in Sports. Catch me on Twitter

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Speaker 1: at Big Bars Sports. I'm on Twitter at Scarlett Fu

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Speaker 1: and I really have never eaten tofu and not sure

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Speaker 1: but I will in honor of Michael Varr next year

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Speaker 1: at the Champions Dinner. I'm Lynchy at w CDD SO

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Speaker 1: You got to fry it up, that's the key. Yes, yes,

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Speaker 1: Or you could bake it win put Chili Crisp on

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Speaker 1: it too. That's another good one. Oh I gotta try that. Yeah,

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Speaker 1: your schools hurt. Radio around the world